Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of8 percent, has a YTM of 6 percent, and has 12 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond pays a coupon of 6 percent, has a YTM of 8 percent, and also has 12 years to maturity.

What do you expect the bond to be 1 year from now? three years? and 12 years?